Target Data Breach Leads To Identity Theft Fears – Replaced Cards
It seems that the number of credit cards involved in the Target data breach just keeps increasing. Initial reports put the total number of stolen card numbers at about 30 million. Recent reports have increased that total to 70 million, and now the total may be as high as 110 million. Major banks are taking the security breach seriously and replacing millions of credit cards.
Credit card issuer Bank of America addressed the Target data breach by saying that the bank feels that there is a real risk of fraud as a result of the stolen numbers. So far the bank has not issued an exact number of cards which it will be replacing. Major credit card issuer JP Morgan, on the other hand, has said that it will replace more than 2 million cards as a result of the data breach, while American Express says that it has mostly replaced cards at the cardholder’s request.
The Target data breach has left millions of consumers wondering just how secure their personal data is. It has been reported that the thieves may have stolen PIN numbers along with the cards, meaning that cardholder’s bank accounts could be vulnerable to unauthorized access as well.
The nightmare is not over for Target. The company has already given a 10 percent discount storewide in the days following the revelation of the data breach, which incidentally fell just before Christmas day. The company has also agreed to pay Visa up to $40.9 million to cover the costs of fraudulent use of the card numbers. With new information surrounding the breach still trickling in, it appears that the Target data breach saga may not be over yet.
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